EliseAI raises $350M to enhance its AI work automation suite

EliseAI, an artificial intelligence company specializing in work automation for real estate and healthcare sectors, has successfully secured $350 million in funding. The significant round of investment was jointly led by venture capital firms Andreessen Horowitz and Bessemer, with additional backing from Ontario Teachers’ Pension Plan, Sapphire Ventures, and Navitas Capital. Following the funding, EliseAI’s valuation has been raised to $4 billion.

Founded in 2017, EliseAI initially focused on the rental housing market, offering a customer relationship management platform that enables property managers to store prospect data. The company then expanded its offerings with a maintenance app aimed at property managers, which automates the routing of repair requests to technicians and allows managers to track progress via a monitoring dashboard.

Recently, EliseAI introduced an AI assistant named Apollo, which automates tasks such as sending follow-ups to leads who have attended property tours and serves as an information retrieval tool. The platform also offers best practices and data points, such as the average cost of outstanding maintenance projects.

EliseAI’s healthcare platform is utilized by over 3,500 organizations, ranging from small clinics to hospitals. Their chatbot can schedule medical appointments and respond to patient inquiries, processing up to 95% of inbound questions. Post a doctor's visit, the platform automates tasks such as prescription reminders. It also assists in managing patient visits by ingesting patient documents and syncing relevant data to a healthcare organization's electronic health records, reducing the need for manual data entry and minimizing human error.

Co-founder and CEO Minna Song emphasized the complexity and importance of the industries EliseAI serves, stating that these sectors were challenging but essential. The funding round will enable EliseAI to further extend its automation features, hire more engineers, software deployment professionals, and salespeople.